Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target Raised to $567.00

Vertex Pharmaceuticals (NASDAQ:VRTX) had its target price lifted by Bank of America from $555.00 to $567.00 in a research note published on Monday,Benzinga reports. Bank of America currently has a buy rating on the pharmaceutical company’s stock.

Several other analysts have also commented on VRTX. JPMorgan Chase & Co. lowered their price target on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Piper Sandler cut their price objective on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Jefferies Financial Group raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and lifted their target price for the stock from $500.00 to $550.00 in a research note on Monday, December 9th. Finally, William Blair reissued an “outperform” rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Ten research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $509.17.

Vertex Pharmaceuticals Price Performance

Shares of Vertex Pharmaceuticals stock opened at $483.49 on Monday. Vertex Pharmaceuticals has a 12 month low of $377.85 and a 12 month high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. The business has a 50 day simple moving average of $479.96 and a two-hundred day simple moving average of $463.81. The stock has a market capitalization of $124.16 billion, a P/E ratio of -219.77, a PEG ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. As a group, analysts predict that Vertex Pharmaceuticals will post 15.63 EPS for the current fiscal year.

Insider Activity

In related news, EVP Ourania Tatsis sold 310 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total transaction of $142,547.30. Following the transaction, the executive vice president now directly owns 64,021 shares of the company’s stock, valued at approximately $29,438,776.43. The trade was a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Altshuler sold 3,231 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $500.00, for a total value of $1,615,500.00. Following the completion of the transaction, the executive vice president now owns 26,512 shares in the company, valued at $13,256,000. This represents a 10.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,315 shares of company stock valued at $2,121,012 over the last three months. Insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Vertex Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in VRTX. ABC Arbitrage SA acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth about $1,510,000. Czech National Bank raised its stake in shares of Vertex Pharmaceuticals by 6.2% in the 4th quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company’s stock valued at $22,486,000 after acquiring an additional 3,260 shares in the last quarter. Highview Capital Management LLC DE lifted its holdings in Vertex Pharmaceuticals by 1.8% in the 4th quarter. Highview Capital Management LLC DE now owns 5,771 shares of the pharmaceutical company’s stock worth $2,324,000 after purchasing an additional 102 shares during the last quarter. Davidson Investment Advisors boosted its position in Vertex Pharmaceuticals by 26.0% during the fourth quarter. Davidson Investment Advisors now owns 61,161 shares of the pharmaceutical company’s stock worth $24,630,000 after purchasing an additional 12,631 shares during the period. Finally, Jones Financial Companies Lllp grew its holdings in Vertex Pharmaceuticals by 75.5% during the fourth quarter. Jones Financial Companies Lllp now owns 2,468 shares of the pharmaceutical company’s stock valued at $994,000 after purchasing an additional 1,062 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.